Connecticut officially closed its 2026 fiscal year books on Sept. 30 with a surplus of more than $400 million, according to state Comptroller Sean Scanlon.
The state projects a 2027 fiscal surplus of $380 million in the General Fund, and $209 million in the Special Transportation Fund, Scanlon wrote in his monthly financial update.
“You can make no mistake that when you look at these numbers, Connecticut is in a far better place than we were a decade ago,” Scanlon said at a news briefing in Hartford on Thursday.
It’s the eighth consecutive year of budget surpluses, and the state now has a $4.5 billion rainy day fund, its biggest in history.
“And that is something that every resident should be very proud of, and we need to keep working towards,” he said.
“And that is on top of the fact that our job growth is outpacing the United States of America, and our GDP growth is outpacing the United States of America,” Scanlon said.
The surpluses have also helped pay down state pension obligations, State Treasurer Erick Russell said.
“And not only have we been putting additional contributions into the fund, but we've also been outperforming 75% of large public pension plans across the country,” Russell said.
Connecticut’s unfunded pension liabilities have now dropped by more than $30 billion.
